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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Former SEC Director Norm Champ Chronicles Time with the SEC
Norm Champ is a partner with Kirkland & Ellis. He joined the law firm in 2016 from the SEC, where he had been Director of the Division of Investment Management. Prior to heading Investment Management, Mr. Champ served as Deputy Director of OCIE (Office of Compliance, Inspections and Examinations) and Associate Regional Director for Examinations in the SEC’s New York Office, [See fuller bio on NormChamp.com]
And Mr. Champ is the author of Going Public: My Adventures Inside the SEC and How to Prevent the Next Devastating Crisis – a chronicle of his 5 years at the SEC and how they shed light on the regulatory process and government policy-making.
Upon joining the SEC in 2010, Mr. Champ observed that the agency “wasn’t a typically dysfunctional bureaucracy” that had broken parts in need of fixing. Instead, “there were parts of it that had never been built.” He explains by elaborating on the Ponzi schemes perpetrated by Bernie Madoff and Allen Stanford. How, for example, could both schemes have lasted as long as they did without being detected by SEC examiners? Mr. Camp attributes that, in part, to the Commission’s failure to cultivate examiner expertise and encourage follow-through. The SEC was a divided operation, where examiners worked separate and apart from enforcement, and where the culture rewarded passivity and fostered petty disfunction.
Gerald Russello, a former SEC supervisor and currently a Sidley Austin law partner, provides a book review in the WSJournal.